The prospects for tax reform in an incoming Trump administration with a Republican-dominated Congress appear more likely, but thats assuming Congress will be able to get over its traditional dysfunction.

With Donald Trump having aligned his tax plans with those of Congressional Republicans over the course of the campaign, his election puts the GOP in a position to enact significant changes in the nations tax system.

Donald Trumps surprise election Tuesday as U.S. president means the repudiation of Barack Obamas legacy and a strong likelihood Republicans will undo many of his accomplishments, including Obamacare and trade deals, and seek tax cuts for the rich.